Crescent Energy (NYSE:CRGY) PT Lowered to $13.00

Crescent Energy (NYSE:CRGY) had its target price cut by analysts at Mizuho from $14.00 to $13.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price would suggest a potential upside of 18.29% from the company’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company raised their price target on Crescent Energy from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Wolfe Research began coverage on Crescent Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $16.00 price target on the stock. KeyCorp began coverage on Crescent Energy in a research note on Thursday, June 27th. They issued an “overweight” rating and a $16.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $20.00 price target on shares of Crescent Energy in a research note on Tuesday, August 6th. Finally, Truist Financial decreased their price target on Crescent Energy from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $16.70.

Crescent Energy Trading Up 2.8 %

Crescent Energy stock opened at $10.99 on Monday. The stock has a market cap of $1.95 billion, a PE ratio of -54.95 and a beta of 2.26. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $11.59. Crescent Energy has a 52 week low of $9.88 and a 52 week high of $13.85. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.13.

Crescent Energy (NYSE:CRGY) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Crescent Energy had a return on equity of 13.41% and a net margin of 0.61%. The firm had revenue of $653.28 million during the quarter, compared to analysts’ expectations of $619.00 million. Equities research analysts predict that Crescent Energy will post 1.31 earnings per share for the current fiscal year.

Insider Activity at Crescent Energy

In related news, Director Michael Duginski bought 9,344 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $10.62 per share, for a total transaction of $99,233.28. Following the acquisition, the director now owns 201,081 shares in the company, valued at approximately $2,135,480.22. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have purchased 12,294 shares of company stock worth $131,297. 13.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Crescent Energy

Several hedge funds have recently modified their holdings of CRGY. Amalgamated Bank raised its holdings in shares of Crescent Energy by 58.5% during the 4th quarter. Amalgamated Bank now owns 7,444 shares of the company’s stock valued at $98,000 after buying an additional 2,748 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Crescent Energy by 36.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 642,578 shares of the company’s stock worth $8,488,000 after purchasing an additional 171,579 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Crescent Energy during the 4th quarter worth approximately $1,393,000. Trexquant Investment LP purchased a new stake in Crescent Energy during the 4th quarter worth approximately $298,000. Finally, Aigen Investment Management LP purchased a new stake in Crescent Energy during the 4th quarter worth approximately $170,000. 52.11% of the stock is currently owned by hedge funds and other institutional investors.

About Crescent Energy

Crescent Energy Company acquires, develops, and produces crude oil, natural gas, and natural gas liquids (NGLs) reserves. Its portfolio of assets comprises mid-cycle unconventional and conventional assets in the Eagle Ford and Uinta Basins. It also owns and operates various midstream assets, which provide services to customers.